Analyst Action: New Stock Ratings
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A sampling of Monday’s ratings changes and new coverage by securities analysts:
* Alcoa (ticker symbol: AA) and Reynolds Metals (RLM) were downgraded to “hold” from “strong buy” by CIBC Oppenheimer.
* Daimler-Benz (DAI), General Motors (GM) and Ford Motor (F) were rated “buy” in new coverage by Wasserstein Perella Securities, with 12-month target prices of $96, $73 and $62, respectively.
* Hewlett-Packard (HWP) was raised to “strong buy” from “neutral” by SG Cowen, with a 12-month target of $75.
* Kellogg (K) was downgraded to “sell” from “hold” by Credit Suisse First Boston.
* Medtronic was downgraded to “hold” from “buy” by Credit Suisse First Boston.
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